“Last Knight” Live Blog 13 -- Greg Ransom

Economics out of a crucible describes the way World War and “war socialism” crystallized the scientific mind of Ludwig Mises. During WWI Mises spend 2 years at the front lines commanding an artillery unit. In 1916 — between front line assignments — Mises spent a further 7 months at the Scientific Committee for War Economics at the War Ministry. It must have been jarring to move from combat to an “Ivory Tower” government think tank and back again to combat. War gives men a surprising amount of time to think. At the same time war concentrates the mind like few other emotional experiences.

Can You Say Marginal Rate of Substitution?

Once, when my newborn son was barely back from the hospital, I was holding him in my arms with my wife looking on. I asked him, “Can you say marginal rate of substitution?” My wife recognized that as a bit of economics jargon and accused me of trying to turn our son into an economist like me. While it was said as a little joke between the two of us, the longer I teach and write, the more I seriously wish people actually thought in such marginal terms, because many of the times that we confuse ourselves and others are due to our failure to do so.

Last Knight Live Blog 11 Kraus

Chapter 8 bears the title of Mises’s second book, Nation, State, and Economy, and is devoted to a careful exposition and comprehensive theoretical analysis of the key factors that led to the disastrous World War I.Keeping the context of the general state of intellectual atmosphere of the time in mind, the book must certainly have caused some controversy.

Land Socialism: Playing With Fire

How fashionable it is to love nature.

Down with industry, development, internal-combustion engines, clear cutting, strip malls, and private ownership. Capitalists do nothing but ravage the beauty of mother earth. The hand of man only strangles and kills.

If you agree with the above, you will love the fires that have driven half a million people from their homes in California, and destroyed 1,200 houses. President Bush is dumping your money in the form of aid on these suffering souls, and the flames rage on. FULL ARTICLE